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Mortgage Rates Climb to Highest Since April Amid Inflation

Monday, Oct 25 2021
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates are on the rebound after drifting near historic lows for much of 2022. So reports the Associated Press.

arrow 156792 640smallAccording to Freddie Mac, the 30-year mortgage rate averaged 3.09% in the week ending October 21, the highest since April.

Bankrate chief financial analyst Greg McBride said the increase was due to the Federal Reserve stopping its ultra-loose monetary policy and that inflation could continue to drive rates higher.

Read the full article from the Associated Press. 

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